WASHINGTON (Globe Newswire) — Isabella Casillas Guzman, head of the U.S. Small Business Administration, announced over $5.4 million in funding to 44 awardees through the Federal and State Technology (FAST) Partnership Program. FAST provides small businesses and startups, particularly those in underserved communities, with specialized training, mentoring, and technical assistance for research and development. Grant selectees qualify for award amounts of up to $125,000 each.
“When we enable equitable access to federal research funding, we empower more of our nation’s entrepreneurs and scientists to translate their cutting-edge ideas into commercial enterprises,” Guzman said. “This is why doubling our funding of FAST grants and expanding the network of awardees is so critical to building a stronger and more inclusive innovation economy that invests in all of our communities.”
FAST’s objective is to strengthen the competitiveness of small businesses and startups across the country, particularly those from underserved communities to help them benefit from the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs. Through FAST, the SBA continues to play a critical role in creating inclusive entrepreneurial ecosystems and helping American entrepreneurs grow their networks and revenue opportunities with new capital, a priority of Administrator Guzman.
This year’s expansion of the FAST program created 12 additional awards and expands the program’s footprint to 43 states and one U.S. territory. These organizations are led by state and local economic development entities, Small Business Technology Development Centers, Small Business Development Centers, Women’s Business Centers, Procurement Technical Assistance Centers, incubators, accelerators, colleges, and universities. The expanded reach of the program builds on the success of previous FAST cohorts. With $4 million in funding in fiscal year 2021, FAST helped small businesses to win over $88 million in SBIR and STTR awards, a 22:1 return for every taxpayer dollar spent.
The FAST program provides awards for a base period of 12 months, plus four optional continuation periods of 12 months each. Thirty-two FAST awardees from the 2021 cohort were also selected for second or third-year funding. The FAST grantees are as follows:
2023 Cohort – First Year
| STATE | ORGANIZATION |
| Alaska | University of Alaska |
| Florida | Florida High Tech Corridor |
| Idaho | Idaho State University |
| Indiana | Indiana Economic Development Corporation |
| Iowa | Iowa State University of Science |
| Maine | Maine Institute of Technology |
| Minnesota | MNSBIR, Inc. |
| Michigan | BBC Entrepreneurial Training & Consulting |
| New Jersey | New Jersey SBDC |
| North Dakota | University of North Dakota |
| Utah | Utah Innovation Center |
| Washington | Life Science Washington Institute |
2023 Cohort – Second Year
| STATE | ORGANIZATIONS |
| Arizona | Arizona Commerce Authority |
| Georgia | Innovation Gateway at the University of Georgia |
| Kentucky | Kentucky Science and Technology Corporation |
| Louisiana | Louisiana Business & Technology Center/LSU |
| Missouri | Missouri Small Business Development Center |
| Puerto Rico | Puerto Rico Small Business and Technology Development Centers |
| South Dakota | South Dakota Biotech Council |
| Tennessee | Launch TN |
| Wisconsin | Center for Technology Commercialization |
2023 Cohort – Third Year
| STATE | ORGANIZATION |
| Arkansas | University of Arkansas at Little Rock- Arkansas SBTDC |
| Colorado | Colorado Small Business Development Center |
| Connecticut | Connecticut Innovations, Inc. |
| Delaware | Delaware Small Business Development Center |
| Hawaii | Hawaii Technology Development Corporation (HTDC) |
| Illinois | EnterpriseWorks at the University of Illinois |
| Kansas | Wichita State University |
| Maryland | Maryland Technology Development Corporation (TEDCO) |
| Mississippi | Innovate Mississippi |
| Montana | Montana State University TechLink Center |
| Nebraska | Nebraska Business Development Center, University of Nebraska at Omaha |
| New Hampshire | UNHInnovation |
| New Mexico | Arrowhead Center at New Mexico State University |
| North Carolina | First Flight Venture Center, Inc. |
| Ohio | Ohio Aerospace Institute |
| Oklahoma | OK Catalyst |
| Oregon | VertueLab |
| Pennsylvania | Ben Franklin Technology Partners Corporation |
| South Carolina | University of South Carolina |
| Texas | SWTXB SBDC Technology Commercialization Center |
| Virginia | Virginia Innovation Partnership Corporation |
| West Virginia | TechConnect West Virginia |
| Wyoming | University of Wyoming Small Business Development Center |
